And for now (and as mentionned in my previous post FATCA is going to change that), they might have an edge on the Latin American market, I also give him that. This is mainly due to proximity, ease of travel, often poor diversification and a strong US dollar focus.

Sadly, these do not apply to European (or Russian) private or institutional investors. They have plenty of options within Europe who can offer expertise in the Euro trading and investments, stable economies, top notch service and experience in managing wealth (when some of the firms that are still active today were founded, Florida was just a bunch of cotton fields owned by the kingdom of Spain).

What might go to the US is the part that doesn’t want to disclose beneficial ownership:Delaware won’t give it up
And they are welcome to go as Monaco, Luxemburg, Switzerland and London do not tolerate it.

So the last banker standing better don’t start looking for a South Beach condo. Instead, he should better get used to the European climate, because believe it or not that’s where his future is…